A frosty windless morning has seen electricity prices soar up to five thousand dollars a megawatt hour reflecting the urgent energy security problem New Zealand is facing.

This morning the Government also acknowledged this announcing the formation of a group to have a grown-up conversation about gas scarcity and energy security.

Energy Resources Aotearoa Chief Executive John Carnegie commented, "That schools, hospitals and tertiary institutions need the assistance of this group to ensure they can keep facilities warm and lit is an indictment on the previous Government’s hasty and ill-informed ban on exploration in the gas sector."

Energy Resources Aotearoa welcomes the Government’s growing recognition of the vital role natural gas has in our energy system, and the need to encourage further investment in the sector.

"Yesterday’s high overnight energy prices, due to cold weather and no wind, and the news that because of gas scarcity Genesis is looking to import more foreign coal to underpin our energy security highlight the importance of having a clear, well thought out plan for our energy system that supports our economic and social health and wellbeing. This perverse result of the previous Government’s policy is we are having to use a higher emitting fuel to keep the lights on and people warm and dry." Says Mr Carnegie

New Zealand has abundant natural resources like natural gas that can be harnessed to ensure we have a thriving economy and secure, affordable energy for all New Zealanders.

"While we welcome the Government’s public acknowledgement of the serious of the problems, and the establishment of this Government-led group, we urge the Government to progress to solutions with urgency to allow natural gas to contribute to our energy resilience and affordability." Says Mr Carnegie

Energy Resources Aotearoa looks forward to working with the Government to urgently protect and rebuild our gas reserves, so that we can keep the lights on and our homes warm and dry.

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